15 Second Charts are a must have for any serious day trader! When we first started, we thought the best broker was the most well known broker. Who came to mind for us was the one and only ******. ****** was the name that we always heard when day trading first got into the news. So that was the broker we had to have, right? After 1000s of trades, I can tell you that the most popular isn’t always the best. I hear gurus saying all the time to go to the biggest 2 brokers, saying “you get what you pay for!” It makes sense, doesn’t it? I don’t know about all that. The truth is, even as beginners, it seemed like we had training wheels on our accounts at some big brokers. The hotkeys were limited. There was surely no 15 second charts. They seemed to discourage active day trading. This seemed a bit odd to me. Didn’t the training wheels reduce the precision fills of investors and swing traders? Was I to believe that swing traders don’t care about $0.20 in slippage?
As I was saying..15 second charts are perhaps the most important tool for intraday trading. As you can see from the image above, on the 5 minute (right) you have a sort of hammer with a buy confirmation breaking the real body and upper shadow of the previous candle. It isn’t the cleanest hammer entry, but this is a setup many may choose to trade. On the 15 second however, you can see a repeatable pattern that should indicate a continuation in the down direction. As you can see below, the 5 minute was not showing the entire picture. Now the 5 minute is looking very weak and the 15 second confirms the breakdown is beginning. If you look back at the charts yourself you’ll see that $DTIL continued down to $9.34. I personally took some of that repeatable pattern. That’s what I do, I trade repeatable patterns known as technical analysis, confirmed by price action. While other longs may have grabbed that setup on the 5 minute; I was gone with my profit from a pattern they couldn’t even see.
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Important notice to veterans active duty and first responders:
TradeStation is the first broker we know of that has offered no trade fees for active duty military, veterans, and first responders! This may not seem like much in light of the race to $ZERO$. Let me be clear, TradeStation is a professional level broker with amazing short locates, precision fills like you’ve never seen, Hot Lists that rival the best in the scanner business, and they honored our troops and first responders when others were falling short!
TradeStation is willing to give Mighty Soldiers Trades LLC supporters the following: